2 Tips to Ensure You Get the Most Money When Selling Your House

Every homeowner wants to make sure they get the best price when selling their home. But how do you guarantee that you receive maximum value for your house? Here are two keys to ensuring you get the highest price possible.

1. Price it a LITTLE LOW 

This may seem counterintuitive. However, let’s look at this concept for a moment. Many homeowners think that pricing their home a little OVER market value will leave them room for negotiation. In actuality, this just dramatically lessens the demand for your house (see chart below).

Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price it so that demand for the home is maximized. By doing this, the seller will not be fighting with a buyer over the price, but will instead have multiple buyers fighting with each other over the house.

Realtor.com, gives this advice:

“Aim to price your property at or just slightly below the going rate. Today’s buyers are highly informed, so if they sense they’re getting a deal, they’re likely to bid up a property that’s slightly underpriced, especially in areas with low inventory.”

2. Use a Real Estate Professional

This too may seem counterintuitive. The seller may think they would net more money if they didn’t have to pay a real estate commission. With that being said, studies have shown that homes typically sell for more money when handled by a real estate professional.

Research posted by the National Association of Realtors revealed that:

“The median selling price for all FSBO homes was $185,000 last year. When the buyer knew the seller in FSBO sales, the number sinks to the median selling price of $163,800. However, homes that were sold with the assistance of an agent had a median selling price of $245,000 – nearly $60,000 more for the typical home sale.”

Bottom Line

Price your house at or slightly below the current market value and hire a professional. That will guarantee you maximize the price you get for your house.

Original Article

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UNDER CONTRACT: 2814 Fairway Village Drive

 

2814 Fairway Village Drive

Under Contract in Less Than 60 Days!

 

 

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Good News for House Hunters

For the first time since 2011, incomes rose faster than home prices in the U.S., according to a new report from Zillow.

The median home price climbed to $188,100 in August, a 5% increase from the same time a year ago.

And last week, the Census Bureau reported that median household income increased to $56,516 in 2015, up 5.2% from 2014.

"People will have a chance to see more money coming in on a monthly basis in their paychecks, allowing them to save more for a down payment or afford more in a mortgage payment," said Svenja Gudell, Zillow's chief economist.

While the rise in income -- which was the first increase since 2007 -- is good news for wanna-be home buyers, incomes still have a long way to go to catch up with home values.

Home prices have shot up since 2012, as strong demand and limited supply created an affordability issue in markets throughout the country.

In the wake of the 2008 housing crisis, banks also stiffened their lending standards, including down payment requirements. Higher prices mean larger down payments, which are a major obstacle for many potential buyers.

Mortgage rates hovering near record lows have helped ease some of the price pain. The average rate of a 30-year fixed mortgage is 3.48%, according to Freddie Mac. A year ago, the rate was 3.86%.

While home appreciation is slowing nationwide, some markets are still on fire.

Prices in Portland, Oregon; Seattle and Denver experienced double-digit annual growth. For instance, in Portland, home prices are up nearly 15% year over year to hit $338,900.

Renters are also starting to see some relief.

Rising home prices had pushed more people into the rental market, which in turn caused rental prices to soar.

Right now, rents are growing 1.7% nationally, according to Zillow. A year ago, rents were rising by more than 6%.

Original Article from CNN

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New Listing: 2814 Fairway Village Drive

2814 Fairway Village Drive

St. James Plantation

3 Bedrooms

2.5 Bathrooms

$299,900

 

This house has many ''favorite'' places. In summer, a corner of the backyard offers breezes surrounded by the delicate leaves of a river birch. In winter, the kitchen table is in the warmth of a setting sun. It's the anticipation of spring with bright green leaves outside the master bath window. It's also the porch swing, the landscaped terrace (with views of the turtles, herons and golfers), and watching TV in the evening in the bonus room. The interplay of patterns, textures and colors offer exciting decorating options. The orientation and window placements connect one to the rhythm of nature, and the amenities enhance the pleasure of it. St. James Plantation is a gated community offering golf, tennis, full service marina on the ICW, beach club and more. Club membership is inactive.

 

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New Listing: 4302 Finley Court

4302 Finley Court

St. James Plantation

3 Bedrooms

3 Bathrooms

$399,900

This lovely home features an open floor plan with many upgrades to the original building design. In addition to the master suite, there is one bedroom and an office/den downstairs. The kitchen/dining area/great room all flow into each other for easy entertaining. Walls and flooring are all very neutral, countertops are granite and kitchen appliances are stainless steel. The bonus room/bedroom upstairs has a full bath, a wet bar and plenty of storage. The four season room and patio overlook a beautiful pond. St. James Plantation is a gated community with many amenities including 81 holes of golf, tennis, full service marina on the ICW, private oceanfront beach club, biking/walking trails, indoor/outdoor pools and athletic facilities. Club membership is active.

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Why Brexit is great news for U.S. homebuyers

It's now even cheaper to get a mortgage.

The average rate of a 30-year fixed mortgage dropped to 3.48% -- the lowest level since May 2013, according to Freddie Mac. A year ago, the rate was 4.08%.

The drop comes in the wake of the U.K.'s decision to leave the European Union. The historic vote sent the yield on the U.S. 10-year Treasury, which serves as benchmark for consumer loans, tumbling to 1.45% this week.

The rate on the 15-year fixed mortgage also dropped to 2.78% from 2.83% last week.

"Obviously it's a good time for anyone who is the market for a home purchase or had been on the proverbial fence about refinancing," said Mark Hamrick, senior economic analyst at Bankrate.

The U.K.'s decision to separate from the European Union on Friday triggered a massive selloff that erased a record $3 trillion from the global stock market on Friday and Monday.

Some experts expect the fallout from the vote to be a boon for the U.S. real estate market as more foreign buyers seek out a safe haven to park their cash.

The drop in home loan rates can provide some breathing room for wanna-be buyers in the U.S. who have been facing rising home prices and tighter lending requirements.

Low inventory and high demand have pushed up home prices throughout the country, creating an affordability issue.

Home prices increased 5% in April from the year prior, according to the latest S&P/Case-Shiller National Home Price Index released earlier this week.

"When you are seeing this continuous 5% increase year over year in home prices without an accompanying increase in either wages or incomes, what can't go on forever does not," Hamrick noted.

CNN Real Estate Article

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Connector between old, new Long Beach roads is now open to traffic

More than three years and $22-million in the making, the Long Beach Road Extension project has reached another milestone with the opening of the road connecting the old and new sections of the highway.

Expanded lanes on the new bridge at Jump and Run Creek and the connector road just east of the new Food Lion opened Wednesday morning.

Although it’s shorter than a football field, the connector road at Coldwell Banker Sea Coast Realty is a significant part of the project and is expected to help relieve congestion along N.C. 211 at the intersections of old Long Beach Road and at the new Long Beach Road Extension (N.C. 133).

The connector gives drivers going between Southport and Oak Island an alternative route. It also makes it easier to access Surf Cinemas and nearby businesses, particularly when traveling from Oak Island.

Engineers with the N.C. Department of Transportation will continue tweaking the timing of traffic signals in the area, which are monitored with cameras and connected by fiber-optic cable.

David Byrd, a DOT inspector, said state officials insisted that contractor Balfour Beatty open the roadway by Memorial Day.

The newest section of roadway has opened but is not finished and is marked with paint. After crews apply the final layer of asphalt, the road will be permanently marked with highly reflective thermoplastic fog and center lines. The final layers of asphalt will be applied at night during the next month, Byrd said.

Except for a few turn lanes, the last layers of asphalt are finished along N.C. 211, Byrd said.

The project includes 2.2 miles of new roadway that ties Long Beach Road to N.C. 87/N.C. 133 between Southport and Boiling Spring Lakes. For drivers going between Oak Island and Boiling Spring Lakes, the new road eliminates a series of turns and traffic signals that are often congested even during the off-season.

Byrd said the contractor intends to finish paving, striping, landscaping and all other aspects of the job before Independence Day.

Original Article from S

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New Listing: 3204 St. James Drive

3204 St. James Drive

St. James Plantation

Build-Able Lot

$45,000

This is a wonderful homesite backed up to woods and within walking distance to the Founders Club. The homesite is centrally located between the Founders Club and the Members Club. Please check the additional documents to see a plan of a home that will fit on the homesite. Club membership is active. St. James Plantation is a gated community with many amenities including 81 holes of golf, tennis, full service marina on the ICW, private oceanfront beach club, over 15 miles of biking/walking trails, indoor and outdoor pools, and athletic facilities.

Ken Keegan Real Estate Broker

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St. James Plantation

Connector between old, new Long Beach roads is now open to traffic

More than three years and $22-million in the making, the Long Beach Road Extension project has reached another milestone with the opening of the road connecting the old and new sections of the highway.

Expanded lanes on the new bridge at Jump and Run Creek and the connector road just east of the new Food Lion opened Wednesday morning.

Although it’s shorter than a football field, the connector road at Coldwell Banker Sea Coast Realty is a significant part of the project and is expected to help relieve congestion along N.C. 211 at the intersections of old Long Beach Road and at the new Long Beach Road Extension (N.C. 133).

The connector gives drivers going between Southport and Oak Island an alternative route. It also makes it easier to access Surf Cinemas and nearby businesses, particularly when traveling from Oak Island.

Engineers with the N.C. Department of Transportation will continue tweaking the timing of traffic signals in the area, which are monitored with cameras and connected by fiber-optic cable.

David Byrd, a DOT inspector, said state officials insisted that contractor Balfour Beatty open the roadway by Memorial Day.

The newest section of roadway has opened but is not finished and is marked with paint. After crews apply the final layer of asphalt, the road will be permanently marked with highly reflective thermoplastic fog and center lines. The final layers of asphalt will be applied at night during the next month, Byrd said.

Except for a few turn lanes, the last layers of asphalt are finished along N.C. 211, Byrd said.

The project includes 2.2 miles of new roadway that ties Long Beach Road to N.C. 87/N.C. 133 between Southport and Boiling Spring Lakes. For drivers going between Oak Island and Boiling Spring Lakes, the new road eliminates a series of turns and traffic signals that are often congested even during the off-season.

Byrd said the contractor intends to finish paving, striping, landscaping and all other aspects of the job before Independence Day.

Original Article from State Port Pilot

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New Listing: 4415 Polly Gully Court SE

4415 Polly Gully Court SE

St. James Plantation

Build-able Lot

$110,000

This is a gorgeous marsh front homesite located at the end of a quiet cul-de-sac. Build your dream house with decks and porches to enjoy the expansive views of the salt marshes and the Intra Coastal Waterway in the distance. It is a short walk to the Founders Club for golf, tennis and swimming. St. James Plantation is a gated community with many amenities including 81 holes of golf, tennis, full service marina on the ICW, private oceanfront beach club, over 15 miles of biking/walking trails, indoor/outdoor pools, and athletic facilities. A Premier membership is transferable.

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New Listing: 4463 Midshipman Court SE

4463 Midshipman Court SE

St. James Plantation

4 Bedrooms

3 Bathrooms

$550,000

This custom built home resembles the Charleston-type home with 2nd and 3rd floor porches. It is located in the Marina Village with views of the Marina and Intra Coastal Waterway. The heated living area is almost 2300 square feet but the total heated area is 3400 sq ft. The first floor is not totally finished but includes garage, workshop and storage which are heated/cooled. A geothermal HVAC system was installed in 2013, the house exterior was painted in 2016, an elevator services all floors, and other upgrades are noted on the feature sheet which your agent can provide. St. James Plantation is a gated community with many amenities including golf, tennis, full service marina on the ICW, private oceanfront beach club, biking/walking trails, indoor and outdoor pools, and athletic facilities.

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St. James Plantation

New Listing: 2832 Irwin Drive SE

 

2832 Irwin Drive SE

Saint James Plantation

Buildable Lot

$120,000

 

This golf course homesite offers views of the tenth fairway of the Members course and is within easy walking distance to the Members Club. Enjoy the restaurant or sports facilities without getting in the car! Club membership is active. St. James Plantation is a gated community with many amenities including 81 holes of golf, tennis, full service marina on the ICW, private oceanfront beach club, over 15 miles of biking/walking trails, indoor and outdoor pools, and athletic facilities.

 

Ken Keegan Real Estate Broker

(910) 523-0903

ken@kenkeegan.com

New Listing: 2576 St James Drive SE

2576 St. James Drive SE

Saint James Plantation

$499,900

This is a one-of-a-kind, unbelievable home overlooking the marina in St. James Plantation. Even though you have a fantastic view from the front of the home, the back is even better. The view from the back is of the 13th green of the Founders Course and also of a large pond. Newly painted inside and out and new carpet being installed the first week of June 2016. To appreciate all the interior features, you must view the home for yourself. This is a must see home. St. James Plantation is a gated community with many amenities including 81 holes of golf, tennis, full service marina on the ICW, private oceanfront beach club, over 15 miles of biking/walking trails, indoor/outdoor pools, and athletic facilities. Club membership is active. Buyer is required to activate a club membership at closing

Ken Keegan Real Estate Broker

(910) 523-0903

ken@kenkeegan.com

New Listing: 2571 St. James Drive U-C5

2571 St. James Drive U-C5

St. James Plantation

Wet Boatslip

This is a 40-foot wet slip in St. James Marina. You may have a boat up to 44 feet in this slip. The marina complex offers a ship store, restaurant, laundry and shower facilities, and parking.

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St. James Plantation

New Listing: 4408 Prince Regent Court

4408 Prince Regent Court

St. James Plantation
Build-able Lot

This large homesite is over a half acre with woods to the back and a pond in front. The location is near the Players Club House and Regency athletic facility and gives you easy access to the Regency gate. Club membership is active. Buyer is required to activate a membership at closing. St. James Plantation is a gated community with many amenities including 81 holes of golf, tennis, full service marina on the ICW, private oceanfront beach club, over 15 miles of biking/walking trails, indoor and outdoor pools, and athletic facilities.

Ken Keegan Real Estate Broker

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St. James Plantation

New Listing: 4390 Spanish Moss Court SE

4390 Spanish Moss Court SE
St. James Plantation
Buildable Lot
$119,900

This is a large secluded very private homesite. The view is of a dense thick woods and pond and stream. Advantages are walking distance to the Marina Village with Tommy's restaurant and ships store. The location is close to the ICW park.St. James is a gated community with many amenities including 81 holes of golf, tennis, full service marina on the ICW, private oceanfront beach club, over 15 miles of biking/walking trails, indoor and outdoor pools, and athletic facilities. Club membership is active. Please contact Ken Keegan 910-523-0903 or email ken@kenkeegan.com for more information.


Ken Keegan Real Estate Broker
(910) 523-0903 mobileEmail Mewww.KenKeegan.com Click here for more information on Brunswick, County Real Estate St. James Plantation

New Listing: 4276 Loblolly Circle SE

 

4276 Loblolly Circle SE
St. James Plantation
4 Bedrooms | 2.5 Bathrooms
$439,900

What a spectacular custom built home nestled in the woods with a nature preserve in the rear and a great pond view in the front. The interior of the home is warm and inviting and features an open floor plan. Please ask your agent for the feature sheet and floor plan to appreciate all that this wonderful home offers. St. James Plantation is a gated community with many amenities including 81 holes of golf, tennis, full service marina on the ICW, private oceanfront beach club, over 15 miles of biking/walking trails, indoor and outdoor pools, and athletic facilities. Club membership is active. Buyer is required to activate a club membership at closing. For more information, contact Ken Keegan at 910-523-0903 or ken@kenkeegan.com.


Ken Keegan Real Estate Broker
(910) 523-0903 mobileEmail Mewww.KenKeegan.com Click here for more information on Brunswick, County Real Estate St. James Plantation

New Listing: 4281 Loblolly Circle SE

 

4281 Loblolly Circle SE

St. James Plantion

3 Bedrooms | 2 Bathrooms

Listed for: $304,900

 

This is a wonderful custom built home located at the end of a no through street in the Trailwood section of St James Plantation. The back yard is very private surrounded by trees. The home has an open floor plan with many windows and cathedral ceilings. The layout is perfect for entertaining with the sunroom bringing the outside in. Sellers have recently replaced the carpeting and the interior is freshly painted. This is one of the best deals in St James and you won't be disappointed. St. James Plantation is a gated community with many amenities including golf, tennis, full service marina on the ICW, private oceanfront beach club, biking/walking trails, indoor and outdoor pools, and athletic facilities. Club membership is active. Buyer is required to activate a club membership at closing.

Ken Keegan Real Estate Broker
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Bank of America will offer mortgages for 3% down

If you're looking to buy a home but don't have the 20% down payment sitting around, Bank of America is now offering mortgages with as little as 3% down.

The new loan program is aimed at helping low- and moderate- income borrowers get home loans for up to $417,000.

To qualify, borrowers can't make more than the median income for their area and need a credit score of at least 660. And the home must be the applicant's primary residence.

Low down payment mortgages aren't exactly new. But borrowers won't have to pay private mortgage insurance with this loan.

Most loans with less than 20% down, like those backed by the Federal Housing Administration, also require monthly insurance premiums on top of the mortgage payments. The premiums are used to help protect the lender in case the borrower can't make payments.

As with most mortgages, applicants must still have a debt-to-income ratio of no more than 43%. But Bank of America will also consider non-traditional forms of credit -- like daycare expenses, health club memberships and rental history -- to help determine credit history.

"There are creditworthy borrowers -- people who have shown good experience paying off debts who fit income restrictions -- and except for the fact that they don't have the money for a down payment, they would be good homeowners," said Terry Francisco, a spokesman for the bank.

Interest rates on the loans will be determined by a borrower's creditworthiness and score, and Francisco said Bank of America's loan option will be cheaper than FHA's rate.

First-time buyers will have to attend a homebuyer education program.

Bank of America (BAC) will sell the mortgages to nonprofit loan fund Self-Help, which will then sell them to Freddie Mac.

Low down payment loans aren't a great fit for everyone though.

Putting less money down means you're financing more, which leads to higher monthly payments and more money paid out in interest over the life of the loan. It also means you have less equity in the home, which could make you more vulnerable if home prices drop.

In the fourth quarter of 2015, the average down payment on a conventional 30-year mortgage was 17.5%, according to LendingTree.

CNN Article

Ken Keegan Real Estate Broker
(910) 523-0903 mobileEmail Mewww.KenKeegan.com Click here for more information on Brunswick, County Real Estate St. James Plantation

Should I buy a home while still paying student loan?

The decision to become a homeowner is likely to be the biggest financial commitment you'll make, and many factors should be taken into account.

First, let's tackle whether it makes sense to become a homeowner. Writing a monthly rent check can seem like throwing away money, but piling mortgage debt on top of student loans can create a long-term budget crunch.

"With student loan debt, your asset is your education and no one can take that anyway," said Certified Financial Planner Travis Sollinger at Fort Pitt Capital Group. "But if you buy a house and you can't afford the payments, they will take the house."

Along with your credit score, your debt-to-income ratio is one of the most important numbers banks look at when issuing a loan. This number helps lenders determine your ability to repay.
To determine your ratio, add up all your monthly debts, including car, student loan and credit card expenses and the potential mortgage payment, and divide it by your gross monthly income. In order for a mortgage to be backed by the government, this number can't be higher than 43%.
Low mortgage rates and high rents make buying an attractive option, but you should be ready to put some roots down. If you're planning to stay in a home for at least two years, buying is more financially advantageous than renting in 70% of housing markets, according to a recent report from Zillow.

Now let's weigh your down payment options.

Down payment size impacts the total cost of a loan. A bigger down payment means you're borrowing less from the bank, which lowers monthly payments. It can also lower your loan's interest rate, reducing how much you'll pay in interest over the life of the mortgage.

The average down payment on a conventional 30-year mortgage was 17.5% in the fourth quarter of 2015, according to LendingTree.

But there are other options if you don't have that much cash sitting around. The Federal Housing Administration backs mortgages that require as little as 3.5% down.

Putting less down will likely lead to higher interest rates on the loan, but with interest rates still so low, now could be the time to pounce. "Given the current environment, it's not going to be that big of a difference," said Sollinger. "It adds up over 30 years, but it's better than continuing to rent for the next five to 10 years. If you itemize, the cost of that money is pretty darn cheap."
Keep in mind that if you don't put 20% down, there's a good chance the lender will require private mortgage insurance. These premiums protect the lender if you miss a payment.

When figuring out how much money to put down, don't wipe out your savings account, advised Bill Van Sant, certified financial planner at Girard Partners. It's a good idea to keep a cushion to cover things like closing costs, moving expenses, home insurance and furniture shopping.

But the decision to buy a home isn't all about money. Becoming a homeowner comes with a lot of responsibilities: You're in charge when the dishwasher stops working, the basement floods, or there's an uninvited critter house guest. Make sure you're willing to handle those responsibilities as well.

Original CNN Article


Ken Keegan Real Estate Broker
(910) 523-0903 mobileEmail Mewww.KenKeegan.com Click here for more information on Brunswick, County Real Estate St. James Plantation

Should I buy a home while still paying student loans?

The decision to become a homeowner is likely to be the biggest financial commitment you'll make, and many factors should be taken into account.

First, let's tackle whether it makes sense to become a homeowner. Writing a monthly rent check can seem like throwing away money, but piling mortgage debt on top of student loans can create a long-term budget crunch.

"With student loan debt, your asset is your education and no one can take that anyway," said Certified Financial Planner Travis Sollinger at Fort Pitt Capital Group. "But if you buy a house and you can't afford the payments, they will take the house."

Along with your credit score, your debt-to-income ratio is one of the most important numbers banks look at when issuing a loan. This number helps lenders determine your ability to repay.

To determine your ratio, add up all your monthly debts, including car, student loan and credit card expenses and the potential mortgage payment, and divide it by your gross monthly income. In order for a mortgage to be backed by the government, this number can't be higher than 43%.

Low mortgage rates and high rents make buying an attractive option, but you should be ready to put some roots down. If you're planning to stay in a home for at least two years, buying is more financially advantageous than renting in 70% of housing markets, according to a recent report from Zillow.

Now let's weigh your down payment options.

Down payment size impacts the total cost of a loan. A bigger down payment means you're borrowing less from the bank, which lowers monthly payments. It can also lower your loan's interest rate, reducing how much you'll pay in interest over the life of the mortgage.

The average down payment on a conventional 30-year mortgage was 17.5% in the fourth quarter of 2015, according to LendingTree.

But there are other options if you don't have that much cash sitting around. The Federal Housing Administration backs mortgages that require as little as 3.5% down.

Putting less down will likely lead to higher interest rates on the loan, but with interest rates still so low, now could be the time to pounce. "Given the current environment, it's not going to be that big of a difference," said Sollinger. "It adds up over 30 years, but it's better than continuing to rent for the next five to 10 years. If you itemize, the cost of that money is pretty darn cheap."

Keep in mind that if you don't put 20% down, there's a good chance the lender will require private mortgage insurance. These premiums protect the lender if you miss a payment.

When figuring out how much money to put down, don't wipe out your savings account, advised Bill Van Sant, certified financial planner at Girard Partners. It's a good idea to keep a cushion to cover things like closing costs, moving expenses, home insurance and furniture shopping.

But the decision to buy a home isn't all about money. Becoming a homeowner comes with a lot of responsibilities: You're in charge when the dishwasher stops working, the basement floods, or there's an uninvited critter house guest. Make sure you're willing to handle those responsibilities as well.

CNN Article

Ken Keegan Real Estate Broker
(910) 523-0903 mobileEmail Mewww.KenKeegan.com Click here for more information on Brunswick, County Real Estate St. James Plantation